Parkside Investments LLC Has $9.36 Million Position in Air Lease Co. (NYSE:AL)

Parkside Investments LLC lessened its holdings in Air Lease Co. (NYSE:AL) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,228 shares of the transportation company’s stock after selling 880 shares during the quarter. Parkside Investments LLC’s holdings in Air Lease were worth $9,364,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AL. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Air Lease in the third quarter valued at about $872,000. BCGM Wealth Management LLC acquired a new stake in Air Lease during the 3rd quarter valued at approximately $1,899,000. Harbor Capital Advisors Inc. lifted its position in shares of Air Lease by 109.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 161,127 shares of the transportation company’s stock worth $7,297,000 after purchasing an additional 84,016 shares during the period. Raymond James & Associates boosted its stake in shares of Air Lease by 12.4% in the 3rd quarter. Raymond James & Associates now owns 459,018 shares of the transportation company’s stock valued at $20,789,000 after purchasing an additional 50,675 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Air Lease by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,115,221 shares of the transportation company’s stock worth $50,508,000 after buying an additional 36,596 shares during the period. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Trading Down 0.8 %

NYSE:AL opened at $46.95 on Monday. The firm has a fifty day simple moving average of $48.64 and a two-hundred day simple moving average of $46.48. Air Lease Co. has a 12 month low of $39.35 and a 12 month high of $52.31. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 1.02 and a beta of 1.61. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63.

Air Lease Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 12th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.87%. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, December 12th. Air Lease’s payout ratio is presently 20.05%.

Analysts Set New Price Targets

AL has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. The Goldman Sachs Group reissued a “buy” rating and issued a $65.00 price objective on shares of Air Lease in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.60.

About Air Lease

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.